Magellan Midstream Partners, L.P. - FORM 10-K - EX-12 - EXHIBIT 12 - February 19, 2016

Attached files

file filename
EX-10.I - EXHIBIT 10.I - Magellan Midstream Partners, L.P.exhibit10i201510-k.htm
EX-23 - EXHIBIT 23 - Magellan Midstream Partners, L.P.exhibit23201510-k.htm
EX-21 - EXHIBIT 21 - Magellan Midstream Partners, L.P.exhibit21201510-k.htm
EX-32.B - EXHIBIT 32.B - Magellan Midstream Partners, L.P.exhibit32b201510-k.htm
EX-10.B - EXHIBIT 10.B - Magellan Midstream Partners, L.P.exhibit10b201510-k.htm
EX-10.H - EXHIBIT 10.H - Magellan Midstream Partners, L.P.exhibit10h201510-k.htm
EX-10.C - EXHIBIT 10.C - Magellan Midstream Partners, L.P.exhibit10c201510-k.htm
EX-31.B - EXHIBIT 31.B - Magellan Midstream Partners, L.P.exhibit31b201510-k.htm
EX-10.A - EXHIBIT 10.A - Magellan Midstream Partners, L.P.exhibit10a201510-k.htm
EX-14.B - EXHIBIT 14.B - Magellan Midstream Partners, L.P.exhibit14b201510-k.htm
EX-32.A - EXHIBIT 32.A - Magellan Midstream Partners, L.P.exhibit32a201510-k.htm
10-K - 10-K - Magellan Midstream Partners, L.P.mmp12311510-k.htm
EX-31.A - EXHIBIT 31.A - Magellan Midstream Partners, L.P.exhibit31a201510-k.htm


Exhibit 12

MAGELLAN MIDSTREAM PARTNERS, L.P.
RATIO OF EARNINGS TO FIXED CHARGES
(In thousands)


 
Year Ended December 31,
 
2011
 
2012
 
2013
 
2014
 
2015
EARNINGS:
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes, extraordinary gain (loss) and cumulative effect of change in accounting principle*
$
408,669

 
$
435,331

 
$
580,575

 
$
824,745

 
$
754,975

Add: Fixed charges
110,946

 
120,321

 
133,511

 
146,835

 
160,044

Amortization of interest capitalized
739

 
755

 
816

 
900

 
993

Distributed income of equity investees
5,598

 
7,793

 
3,274

 
3,086

 
66,285

Less: Interest capitalized
(3,174
)
 
(6,195
)
 
(14,339
)
 
(22,803
)
 
(14,442
)
Total earnings
$
522,778

 
$
558,005

 
$
703,837

 
$
952,763

 
$
967,855

 
 
 
 
 
 
 
 
 
 
FIXED CHARGES:
 
 
 
 
 
 
 
 
 
Interest expense
$
110,700

 
$
120,068

 
$
132,887

 
$
145,862

 
$
158,895

Rent expense representative of interest factor
246

 
253

 
624

 
973

 
1,149

Total fixed charges
$
110,946

 
$
120,321

 
$
133,511

 
$
146,835

 
$
160,044

Ratio of earnings to fixed charges
4.7

 
4.6

 
5.3

 
6.5

 
6.0

 
 
 
 
 
 
 
 
 
 






*    Excludes income from equity investments.







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